The crypto market kicked off October on a strong note, led by $Bitcoin’s surge to a new all-time high above $126,000. Altcoins followed suit, with Cardano ($ADA) bouncing off the $0.85 support area after a brief pullback. This support level aligns closely with the 50-day Simple Moving Average (SMA) at $0.853, suggesting solid buying interest.
ADA/USD 1-day chart - TradingView
The chart indicates that ADA is holding above both the 50-day and 200-day SMAs — a technically bullish sign. The 200-day SMA sits near $0.74, forming a medium-term safety net that has repeatedly prevented deeper corrections since July.
If bullish momentum continues across the market, $Cardano could aim for the $0.88–$0.90 zone in the short term. A successful breakout above this area would expose the next resistance at $0.95, and beyond that, a push toward the psychological $1.00 mark.
Momentum indicators suggest ADA has room to rise, but trading volume remains modest — meaning bulls need strong follow-through from Bitcoin or market-wide inflows to confirm the move.
On the downside, immediate support lies around $0.85, where ADA previously consolidated. If this level fails, the next cushion is found near $0.80, followed by the stronger 200-day SMA around $0.74. A deeper correction below $0.71 could open the door toward $0.62, last tested in June.
Until ADA firmly closes below the 200-day SMA, the broader uptrend remains intact, with dips likely being bought by long-term investors.
With Bitcoin’s record highs driving renewed optimism, Cardano’s performance now depends on whether capital rotates from BTC into large-cap altcoins. Historically, such rotations have fueled mid-cycle rallies where coins like ADA outperform for short periods.
If bullish sentiment persists through October — often dubbed “Uptober” by traders — ADA could retest the $0.95–$1.00 range before the month ends.
